Home builders remained confident in the market for newly-built single-family homes in April though they continue to deal with affordability concerns due to a shortage of construction workers and buildable lots. The NAHB Housing Market Index rose one point this month to 63 where any number over 50 indicates that more builders view conditions as good than poor. Sentiment levels have hovered in the low 60s for the past three months.
Better-than-expected earnings from UnitedHealth Group, J&J and Bank of America are pushing US stocks modestly higher this morning as the Dow, S&P and NASDAQ seem poised to move another leg higher. The S&P 500 closed at 2,905 yesterday, just below its all-time closing high of 2,930 hit on September 20, 2018. In addition, The Conference Board reports that its Global Consumer Confidence Index remains near all-time highs.